Sunu Assurances Nigeria Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	21,639	15,267	9,869	5,476	4,462
Total Interest & Dividend Income	1,739	1,666	564.53	364.89	247.29
Gain (Loss) on Sale of Investments	41.25	22.05	42.68	-9.09	5.51
Other Revenue	234.45	219.07	243.22	469.17	230.62
Total Revenue	23,654	17,174	10,719	6,301	4,946
Revenue Growth (YoY)	37.73%	60.22%	70.12%	27.40%	37.30%
Policy Benefits	11,508	9,300	6,059	2,010	1,359
Policy Acquisition & Underwriting Costs	-	-	-	1,412	1,136
Selling, General & Administrative	590.56	482.17	313.79	260.8	209.38
Provision for Bad Debts	-1.18	4.21	11.08	0.38	18.39
Other Operating Expenses	2,802	2,197	1,695	1,356	1,076
Reinsurance Income or Expense	-4,167	-1,472	-1,152	-	-
Total Operating Expenses	20,644	14,814	10,285	5,900	4,484
Operating Income	3,010	2,361	434.57	401.31	461.94
Interest Expense	-4.79	-7.24	-1.83	-0.75	-
Currency Exchange Gain (Loss)	-1,061	1,989	2,534	246.11	97.4
Other Non Operating Income (Expenses)	58.58	-138.12	-152.89	4.29	-75.21
EBT Excluding Unusual Items	2,003	4,204	2,814	650.97	484.13
Gain (Loss) on Sale of Investments	-0	-	-	-	-
Gain (Loss) on Sale of Assets	4.54	20.96	3.26	4.2	4.03
Asset Writedown	0	49.89	-	-	-
Pretax Income	2,007	4,275	2,817	655.16	488.16
Income Tax Expense	476.9	594.93	138.43	177.53	254.61
Earnings From Continuing Ops.	1,531	3,680	2,679	477.63	233.55
Minority Interest in Earnings	-87.32	-16.6	-45.38	-44.74	-34.82
Net Income	1,443	3,663	2,633	432.9	198.73
Net Income to Common	1,443	3,663	2,633	432.9	198.73
Net Income Growth	-60.60%	39.11%	508.31%	117.83%	-10.12%
Shares Outstanding (Basic)	5,811	5,811	5,811	5,811	5,811
Shares Outstanding (Diluted)	5,811	5,811	5,811	5,811	5,811
Shares Change (YoY)	-	-	-	-	107.53%
EPS (Basic)	0.25	0.63	0.45	0.07	0.03
EPS (Diluted)	0.25	0.63	0.45	0.07	0.03
EPS Growth	-60.60%	39.11%	508.31%	117.83%	-56.69%
Free Cash Flow	-1,342	4,142	3,508	886.62	-1,967
Free Cash Flow Per Share	-0.23	0.71	0.60	0.15	-0.34
Dividend Per Share	-	0.100	-	0.030	-
Operating Margin	12.72%	13.74%	4.05%	6.37%	9.34%
Profit Margin	6.10%	21.33%	24.57%	6.87%	4.02%
Free Cash Flow Margin	-5.67%	24.12%	32.72%	14.07%	-39.76%
EBITDA	3,432	2,689	692.73	621.27	674.7
EBITDA Margin	14.51%	15.66%	6.46%	9.86%	13.64%
D&A For EBITDA	422.13	328.68	258.17	219.95	212.76
EBIT	3,010	2,361	434.57	401.31	461.94
EBIT Margin	12.72%	13.74%	4.05%	6.37%	9.34%
Effective Tax Rate	23.76%	13.92%	4.91%	27.10%	52.16%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.